Market Overview

UPDATE: Forest Laboratories Posts FQ3 Profit, Lifts FY14 Outlook

Related FRX
Carl Icahn's Track Record In Big Pharma
Carl Icahn Defends His Track Record, Says He Made Investors Hundreds Of Billions Of Dollars

Forest Laboratories (NYSE: FRX) posted a profit in the fiscal third quarter.

For the full fiscal year, Forest Labs lifted its earnings forecast to $1.25 to $1.35 per share, versus its earlier outlook of $0.95 to $1.15 per share.

Forest Labs posted its quarterly profit of $18 million, or $0.07 per share, versus a year-ago loss of $153.6 million, or $0.58 per share. Excluding certain items, its adjusted earnings came in at $0.27 per share.

Its revenue gained 25% to $846.8 million. However, analysts were projecting earnings of $0.04 per share on revenue of $827 million.

Forest Labs shares closed at $68.74 on Friday.

Posted-In: profitEarnings News Guidance


Related Articles (FRX)

View Comments and Join the Discussion!